La. Stat. tit. 33 § 4573

Current with changes from the 2024 Legislative Session

Section 33:4573 - Corporate status; domicile; purpose and powers

A. Any special district created under the provisions of R.S. 33:4571 shall constitute a body corporate in law, with all the powers of a corporation, and with all the powers and rights of a political subdivision of the state as provided by the laws of the state relating to the incurring of debt and the issuing of bonds therefor. Said district, through its board of commissioners, may incur debt and issue negotiable bonds in accordance with the power and authority and in the form and manner, and with the effect and security now or hereafter provided by the constitution and laws of the State of Louisiana. Such a district through its board of commissioners, may incur debt and contract obligations in accordance with law, sue and be sued, have a corporate seal, and do and perform any and all acts in its corporate capacity and in its corporate name which are necessary and proper for carrying out the purposes and objects for which it is created. It shall have the power of eminent domain and may expropriate property for all its purposes and objectives, in accordance with the constitution and laws of the State of Louisiana. All of the property of the district shall be exempt from taxation.

B. The governing authority or authorities creating a special district or districts as herein authorized shall designate the domicile of such corporation providing that in fixing the domicile the same shall be located at some place within the district.

C. The objectives and purposes of the special districts created under the provisions of R.S. 33:4571 shall be the preservation and development of historic sites or areas, recreation facilities, central business district areas and tourist attractions and to engage in activities which would tend to promote such historic sites and areas, recreation facilities, central business district areas, and tourist attractions. Each district so created is hereby granted and shall have and may exercise all powers necessary or convenient for the carrying out of such purposes including, but without limiting the generality of the foregoing provisions of this section, the following rights and powers:

(1) To acquire, purchase, lease as lessee and hold and use any franchise, property, real, personal or mixed, tangible or intangible, or any interest therein necessary or desirable for carrying out the purposes of the authority, and to sell, lease as lessor, transfer and dispose of any property or interest therein at any time acquired by it; provided, however, that title to all such property shall be taken in the name of the State of Louisiana;

(2) To acquire by purchase, lease or otherwise and to construct, improve, maintain, repair and operate facilities which it deems necessary or convenient to carry out its purposes;

(3) To enter into agreements of any nature with any person or persons (natural or artificial), corporation, association or other entity, including public corporations, political subdivisions, municipalities, the United States government and agencies thereof, the State of Louisiana or any of its agencies, or any combination thereof or with instrumentalities of every kind, for the operation of all or any part of the properties and facilities of the district;

(4) To make and enter into contracts, conveyances, mortgages, deeds or trusts, bonds and leases in the carrying out of its corporate objectives;

(5) To let contracts for the construction or acquisition in any other manner of property and facilities incident to the carrying out of the corporate purposes of the district, which contracts shall be let in such manner as shall be determined by the board of commissioners;

(6) To fix, maintain, collect and revise rates, charges and rentals for the facilities of the district and the services rendered thereby;

(7) To make bylaws for the management and regulation of its affairs;

(8) To cooperate and contract with the government of the United States or any department or agency thereof and with the State of Louisiana or any department or agency thereof and to accept gifts, grants and donations of property and money therefrom;

(9) To cooperate with the State of Louisiana or any political subdivision, department, agency or corporation of said for the construction, operation and maintenance of facilities designed to accomplish the purpose for which the district is created on any basis including the matching of funds and by participating in projects authorized by any federal or state law as it shall see fit; any special district created under the provisions of R.S. 33:4571 shall be specifically required to cooperate and establish a viable working arrangement with any recreation districts created by the parish governing authority or authorities under other provisions of law;

(10) To pledge all or any part of its revenues;

(11) To levy and collect a tax not to exceed ten mills on the dollar of assessed valuation on all property within the district, when authorized by a vote of a majority of the qualified electors within the territorial jurisdiction of the district voting at an election called by the district and held, insofar as practicable, in accordance with the procedures set forth in Part II of Chapter 4 of Sub-Title II of Title 39 of the Louisiana Revised Statutes of 1950, as the same now exists or may hereafter be amended, except that no voter shall be required to sign a ballot nor vote assessed valuation of property and election machines shall be used. Said tax shall be over and above all other authorizations for and any limitations on the imposition and collection of taxes within such area and shall not be included in computing any tax limitation whether fixed by the Louisiana Constitution or by law. Said tax, when levied, shall be from year to year or for such period of years as may be designated in the resolution by which the election is called on the question of the imposition of said tax; provided, however, that no person shall be exempt from payment of the tax by reason of claiming that all or a portion of the property upon which the tax is levied constitutes the homestead of the taxpayer.

(12) To incur debt and issue negotiable bonds of the district from time to time for any purpose within the authority delegated to it and to pledge for the payment of the principal and interest of such bonds the avails of taxes authorized to be imposed pursuant to this section, or the income and revenues derived or to be derived from the properties and facilities maintained and operated by it, or received by the district from any other sources whatsoever, or any combination of the foregoing, and to prescribe the conditions and details of such bonds. In addition to the pledge of the taxes, income and revenues to secure said bonds, the district may further secure their payment by a conventional mortgage upon all or any of the properties constructed or acquired or to be constructed and acquired by it. Such bonds shall be authorized by a resolution or resolutions of its board of commissioners, shall be of such series, bear such date or dates, mature at such time or times not exceeding thirty years from their respective dates, bear such rate or rates of interest payable annually or semi-annually, be in such denominations, be in such form, carry such registration and exchangeability provision, be payable in such medium of payment and at such place or places, be subject to such terms of redemption, and be entitled to such priorities on the income, revenue and taxes as such resolution or resolutions may provide. The bonds shall be signed by such officers of the district as the board of commissioners shall determine and coupon bonds shall have attached thereto interest coupons bearing the facsimile signatures of such officer or officers of the district as the board of commissioners shall designate. Any such bonds may be issued and delivered, notwithstanding that one or more of the officers signing such bonds or the officer or officers whose facsimile signature or signatures may be upon the coupons, shall have ceased to be such officer or officers at the time such bonds shall actually have been delivered.

Said bonds shall be sold to the highest and best bidder therefor at a public sale after advertisement by the district at least once a week for two consecutive weeks in the official journal of the district and in a newspaper of general circulation or a financial journal published in New Orleans, New York City or Chicago, with the first publications to be made at least fifteen days prior to the date fixed for the reception of bids, reserving to the district the right to reject any and all bids and to readvertise for bids. If, after the advertisement as hereinabove provided, no bids are received, or if such bids as are received are considered in the discretion of the district to be unsatisfactory and are therefore rejected, then the district may sell such bonds by private sale but no private sale shall be made at a price less than the highest bid which may have been received. Notwithstanding the aforesaid provisions with respect to public sale said bonds may be sold to the federal government or any agency thereof through negotiated or private sale. The board of commissioners may in any resolution authorizing the issuance of such bonds enter into such covenants with the future holder or holders of the bonds as to the management and operation of facilities, the lease or rental thereof, the imposition and collection of fees and charges for services and facilities furnished by the district, the disposition of such fees and revenues, the issuance of future bonds and the creation of future liens and encumbrances against such facilities and the revenues therefrom, the carrying of insurance on the facilities, the keeping of books and records, and other pertinent matters, as may be deemed proper by the board of commissioners to assure the marketability of the bonds, provided such covenants are not inconsistent with the provisions of this section. Any holder of the bonds or of any of the coupons thereto attached may by appropriate legal action compel performance of all duties required of the board of commissioners and officials of the district by this section. If any bond issued hereunder is permitted to go into default as to principal or interest, any court of competent jurisdiction may pursuant to the application of the holder of the bond, appoint a receiver for the facilities of the district, which receiver shall be under the duty of operating the facilities and collecting and distributing the revenues thereof pledged to the payment of the bonds, pursuant to the provisions and requirements of this section and the resolution authorizing the bonds. No proceedings in respect to the issuance of any such bonds shall be necessary except such as are contemplated by this paragraph. For a period of thirty days from the date of publication of the resolution authorizing the issuance of bonds hereunder, any person in interest shall have the right to contest the legality of the resolution, the legality of the bond issue and the security therefor, for any cause, and the validity of all other provisions and proceedings in connection with the authorization and issuance of the bonds, after which time no one shall have any cause or right of action to contest the legality of said resolution or of the bonds authorized thereby or of any proceedings taken in connection therewith for any cause whatever. If no suit, action or proceeding is begun contesting the validity of the bond issue within the thirty days herein prescribed, the authority to issue the bonds and to provide for the payment thereof, the legality thereof and of all of the provisions of the resolution and other proceedings authorizing the issuance of the bonds shall be conclusively presumed, and no court shall have authority to inquire into such matters. Such bonds shall have all the qualities of negotiable instruments under the law merchant and the Negotiable Instruments Law of the State of Louisiana and the bonds and the income therefrom shall be exempt from taxation by the State of Louisiana and by any parish, municipality or political subdivision of the state.

(13) To issue refunding bonds to refund any outstanding bonds issued pursuant to this section. Such refunding bonds may be exchanged for the outstanding bonds or may be sold and the proceeds applied to the purchase, redemption or payment of the outstanding bonds or deposited in escrow for the retirement of such bonds. The refunding bonds shall be authorized in all respects as original bonds are herein required to be authorized, and the district, in authorizing the refunding bonds, shall provide for the security of the bonds, the sources from which the bonds are to be paid and for the rights of the holders thereof in all respects as herein provided for other bonds issued under the authority of this section. The district may also provide that the refunding bonds shall have the same priority of lien on the taxes, income and revenues pledged for their payment as was enjoyed by the bonds refunded.

(14) To appoint officers, agents, employees and servants; to prescribe their duties and to fix their compensation.

La. R.S. § 33:4573

Added by Acts 1970, No. 605, §1; Acts 1972, No. 110, §1. Amended by Acts 1974, No. 497, §1.